Nucor Co. (NYSE:NUE) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its holdings in Nucor Co. (NYSE:NUE) by 21.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 36,096 shares of the basic materials company’s stock after selling 10,108 shares during the quarter. Handelsbanken Fonder AB’s holdings in Nucor were worth $4,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NUE. Ashton Thomas Securities LLC acquired a new stake in Nucor during the third quarter valued at $26,000. Coastline Trust Co purchased a new position in shares of Nucor in the third quarter worth about $29,000. Crews Bank & Trust purchased a new position in shares of Nucor in the fourth quarter worth about $29,000. New Wave Wealth Advisors LLC purchased a new position in shares of Nucor in the fourth quarter worth about $33,000. Finally, Salomon & Ludwin LLC raised its stake in Nucor by 45.6% during the third quarter. Salomon & Ludwin LLC now owns 230 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 72 shares during the period. Institutional investors and hedge funds own 76.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Jefferies Financial Group lifted their price target on shares of Nucor from $125.00 to $135.00 and gave the company a “hold” rating in a research report on Wednesday, January 29th. Morgan Stanley cut their price objective on shares of Nucor from $166.00 to $154.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. The Goldman Sachs Group started coverage on shares of Nucor in a research note on Monday, December 2nd. They set a “buy” rating and a $190.00 price objective for the company. StockNews.com raised Nucor from a “sell” rating to a “hold” rating in a research note on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut their price objective on Nucor from $152.00 to $150.00 and set an “overweight” rating on the stock in a report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $163.13.

Nucor Stock Performance

Shares of NUE stock opened at $135.19 on Monday. The stock’s fifty day simple moving average is $125.19 and its 200-day simple moving average is $139.78. The company has a current ratio of 2.51, a quick ratio of 1.48 and a debt-to-equity ratio of 0.27. Nucor Co. has a 1-year low of $112.25 and a 1-year high of $203.00. The company has a market capitalization of $31.74 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 0.96 and a beta of 1.60.

Nucor (NYSE:NUE) last announced its quarterly earnings results on Monday, January 27th. The basic materials company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.28. Nucor had a return on equity of 9.85% and a net margin of 6.60%. During the same period in the previous year, the company earned $3.16 earnings per share. On average, sell-side analysts predict that Nucor Co. will post 7.64 earnings per share for the current fiscal year.

Nucor Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Monday, March 31st will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.20 dividend on an annualized basis and a yield of 1.63%. Nucor’s dividend payout ratio (DPR) is presently 26.16%.

Nucor Company Profile

Nucor Corporation engages in manufacture and sale of steel and steel products. It operates in three segments: steel mills, steel products, and raw materials. The Steel Mills segment produces hot-rolled, cold-rolled, and galvanized sheet steel products; plate steel products; wide-flange beams, beam blanks, and H-piling and sheet piling structural steel products; bar steel products, such as blooms, billets, concrete reinforcing and merchant bars, and engineered special bar quality products; and engages in the steel trading and rebar distribution businesses.